Peter Schiff Roasts Dollar Stablecoins: Crypto’s Comedy Gold? 🪙💸

“I comprehend Bitcoin, though not without a pinch of skepticism,” Schiff declared, “but dollar-backed stablecoins? Alas! The mind reels!” Why, he mused with more eyebrows than Warren Buffet has suits, would anyone entrust a digital token to the loving embrace of a currency as profoundly untrustworthy as the dollar? Surely, he argues, if your digital asset must be chaperoned by a third-party custodian, it would be rather more elegant for such a liaison to involve gold. After all, at least gold won’t be subject to the Federal Reserve’s whimsical printing press or suffer the indignity of being called ‘paper’ money.